Free preview · from the dealership side of the desk
The first question you will be asked at a dealership is ‘what payment are you looking for?’ It sounds helpful. It is the setup. A payment can be made to fit almost any car by stretching the term, and the salesperson knows that a first-time buyer who says ‘$300’ will usually sign for $340 at 72 months without noticing what that costs. So decide the budget before anyone else does, and decide it as a total cost, not a payment.
Start with what you actually bring home each month after taxes, not your salary. A $48,000 salary is roughly $3,100 a month in hand in most states. Everything below is built on that take-home number, and every figure in this guide is an example, not a quote; your rate, your insurance and your state will move the numbers.
Members read the rest · 5 more sections
In the full guide
- The 20/4/10 rule
- Insurance is the number that breaks budgets
- Turn the payment into a price
- What to leave room for
- If the number feels too small
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